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Why Carnival Stock Jumped 17.7% This Week

TheMotleyFool

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Why Carnival Stock Jumped 17.7% This WeekPhoto, wide shot, wide-angle lens, Retail store, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/bda07ced-e79e-4489-b731-ada601660c8e.png

Shares of Carnival Corp. (NYSE: CCL) jumped as much as 17.7% this week after the company reported earnings, according to data provided by S&P Global Market Intelligence. Shares closed the week up 16.5%.

Carnival's revenue jumped 17.7% to $5.78 billion and earnings per share jumped from a loss of $0.31 a year ago to $0.11. But the bigger news was guidance.

Management now expects 2024 net yields to increase 10.25%, up from guidance for 9.5% given in March. And adjusted net income guidance increased by $275 million to $1.55 billion.

Source Fool.com